Network for New Music

Analysis

Network for New Music is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in December 1986, 40 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Network for New Music reported income of $218k and spending of $219k, spending 100% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $175k to $218k (+25%), an average of +5.6% a year. The sharpest change came in the year to August 2022, when income rose by 19%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Network for New Music sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 53rd percentile within PA. Charities of a similar size with the same main cause include Southern California Service Corps Inc ($218k), St Francis Catholic Kitchen ($218k) and West Michigan Society for Protection and Care of Animals ($218k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 90% and program service revenue 7.7% of the total. Compensation of current officers, directors and key employees was $78k (36% of expenses). Other salaries and wages came to $16k. At year end it held assets of $201k against liabilities of $0, net assets of $201k. It reported 4 employees.